Technology Sector Update for 06/13/2023: ORCL, SGH, INTC, XLK, SOXX

Technology stocks were advancing pre-bell Tuesday as the iShares Semiconductor ETF (SOXX) was recently up more than 1% and the Technology Select Sector SPDR Fund (XLK) was 0.78% higher.

Oracle (ORCL) was climbing past 5% after it late Monday reported fiscal Q4 non-GAAP earnings of $1.67 per diluted share, up from $1.54 a year earlier. Analysts polled by Capital IQ expected $1.58.

SMART Global Holdings (SGH) was gaining more than 5% after it signed an agreement through its wholly-owned SMART Modular Technologies unit to sell an 81% interest in SMART Brazil to Lexar Europe BV for $166 million in cash.

Intel (INTC) is in talks with Arm to be an anchor investor in the chip designer's initial public offering, media outlets reported, citing unnamed sources with knowledge of the matter. Intel was recently up more than 3%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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